Franke Group reports 1H net sales up by 27.6 percent
The Artemis Group holding generated consolidated net sales of CHF 1,643.8 million
The Artemis Group, that includes the Franke Group, has released half-year results for 2021. Net sales increased organically by 32.7% at CHF 1,643.8 million, an increase of CHF 379.5 million or 30.0% compared to the same period last year. Organic growth was positive at 32.7%. Operating result (EBIT) improved from CHF 14.7 million to CHF 124.4 million with a significantly higher EBIT margin of 7.6% (HY1/2020: 1.2%). Net profit increased from CHF 28.5 million to CHF 119.6 million.
The Franke Group increased net sales by 27.6% from CHF 988.1 million to CHF 1,260.5 million compared to the same period of the previous year. Net sales grew organically by 31.0%. Acquisitions and divestments led to a decline of 0.9%; currency effects weakened net sales by 2.5%. All divisions recorded organic sales growth. Double-digit growth was achieved by Franke Home Solutions (+41.1%), Franke Foodservice Systems (+35.0%) and Franke Coffee Systems (+11.4%). The Franke Water Systems division (+5.5%) also increased net sales in the first four months before its sale.
The operating result (EBIT) after restructuring expenses amounted to CHF 107.2 million compared to CHF 35.5 million, which significantly exceeded the previous year’s half-year and corresponds to an EBIT margin of 8.5% (HY1/2020: 3.6%). Franke Home Solutions was the main contributor to the significant increase in profitability. Strong sales combined with positive effects from various improvement measures had a positive impact on the division’s result. However, the other divisions also significantly increased their profitability.
Over Franke, the Artemis Group, that includes the Artemis Real Estate Group (real estate portfolio in Switzerland and abroad), the majority holding in the Feintool Group (world market leader in fineblanking technology) and the Artemis Asset Management Group (various strategic shareholdings in international companies listed on the Swiss stock market and in private companies: Forbo, Arbonia, Autoneum and Adval Tech).
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